www.mcewenmining.com/investor-relations/...8fe394/default.aspx
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TORONTO, Aug. 13, 2018 - McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) (“McEwen” or the “Company”) today announced that it has closed the previously announced $50 million senior secured 3-year term loan facility with Royal Capital Management Corp. as agent for the Lenders (the “Term Loan”).
As previously disclosed Rob McEwen, Chairman and Chief Owner of the Company, is participating as a Lender for $25 million of the total $50 million Term Loan.
The Term Loan will be used to complete construction of the Gold Bar Mine in Nevada and for general corporate purposes. Construction of Gold Bar is advancing on schedule for completion by the end of 2018, targeting commercial production in the first quarter of 2019.
The principal amount of the Term Loan will bear monthly interest at 9.75% per annum. Repayment occurs in twelve equal monthly instalments of $2 million during the third year, with the remaining balance due on maturity. The Term Loan can be retired in full or in part anytime during the first two years upon payment of the principal and accrued interest plus a fee linked to the remaining life of the Term Loan, and during the third year upon payment of the remaining principal and accrued interest plus a fee equal to 3% of the remaining principal.
https://www.minenportal.de/unternehmen_nachrichten.php?mid=1916&sid=241312&lang=en#McEwen-Mining-Closes--2450-Million-Term-Loan-Facility
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